economic diplomacy

Nestle is to open its first factory in Japan in more than 25 years because of demand for exotic flavors of Kit Kat. [...] Flavors like wasabi and green tea have helped Kit Kat sales in Japan grow by 50% since 2010, Nestle said.

More than 4,000 participants from 100 countries gathered June 15-16 in Astana for the 10th annual Astana Economic Forum. The forum focused primarily on renewable energy and green economy under the theme “New Energy – New Economy” as well as discussions of sustainable economic growth, world trade and infrastructure. [...] This year’s key speakers presented their views at the session called Globalization: a Future Full of Uncertainties.

The total amount of soft loans that India has committed in the past 14 years is about $24.2 billion, in over 60 developing countries. [...] The fact that India has loaned out capital amounting to nearly 1% of its current GDP is a clear indicator of the primacy of ‘aid’ as a diplomatic tool. “If you are seen by most people as playing a benign developmental role, then you strengthen your credentials of contributing to global good…If you want to be seen as a leader, then you must act like one,” said a senior MEA official.

Panama’s President Juan Carlos Varela announced late on June 12 his intention to break diplomatic relations with Taiwan in exchange for recognition from China. [...] Taiwan’s formal diplomatic relations are particularly susceptible to Chinese offers of aid and investment. For decades both Beijing and Taipei were accused by the other of engaging in “dollar diplomacy” or “checkbook diplomacy,” where various forms of international aid appear tied to switching diplomatic recognition.

Kim Young-tae, a Korean transport policy expert, on Thursday was named secretary general of the International Transport Forum (ITF), an intergovernmental body under the OECD. It is the first time a Korean has been named to a director position of A7, the highest among grades that range from A1 at the OECD. [...] "Well, Korea as a country has been spotlighted for its rapid development. It rose from the ashes of war. Many countries want to learn how Korea built its top-notch transportation infrastructure in such a short amount of time." He said

The United Nations Security Council will vote on Friday on a U.S. and Chinese proposal to blacklist more North Korean individuals and entities after the country's repeated ballistic missile launches, diplomats said on Thursday. The draft resolution, seen by Reuters, would sanction four entities, including the Koryo Bank and Strategic Rocket Force of the Korean People's Army, and 14 people, including Cho Il U, who is believed to head North Korea's overseas spying operations.

Bangkok professionals are not strangers to the difficulties created by cultural differences, and the need to navigate cross-cultural relationships effectively is becoming more important than ever. The city’s historic position as a hub for the high-growth ASEAN region, and the fact that many multinational companies, such as Exxon Mobil, Huawei, and Unilever, have set up regional offices in the city, has required professionals here to constantly build and maintain a culturally diverse range of business relationships.

The economic and commercial relations between Romania and Spain will also be promoted through the recently established Commercial Diplomacy Chamber with the Kingdom of Spain, an NGO that is aiming to also support the collaboration in tourism, agriculture, scientific research, healthcare, telecommunications, fight against corruption, intellectual property and consumers' protection. [...] Currently, over one million Romanian nationals live and work in Spain, and the Spanish business milieu is represented in Romania by over 6,000 legal entities.